A
s one of the world’s largest economic sectors, Travel & Tourism
creates jobs, drives exports, and generates prosperity across the
world. In our annual analysis of the global economic impact of
Travel & Tourism, the sector is shown to account for 10.4% of
global GDP and 313 million jobs, or 9.9% of total employment, in 2017.
The right policy and investment decisions are only made with empirical
evidence. For over 25 years, the World Travel & Tourism Council (WTTC) has
been providing this evidence, quantifying the economic and employment
impact of Travel & Tourism. Our 2018 Annual Economic Reports cover 185
countries and 25 regions of the world, providing the necessary data on 2017
performance as well as unique 10-year forecasts on the sector’s potential.
2017 was one of the strongest years of GDP growth in a decade with
robust consumer spending worldwide. This global growth transferred again
into Travel & Tourism with the sector’s direct growth of 4.6% outpacing
THE ECONOMIC IMPACT the global economy for the seventh successive year. As in recent years,
OF GLOBAL TRAVEL & performance was particularly strong across Asia, but proving the sector’s
TOURISM resilience, 2017 also saw countries such as Tunisia, Turkey and Egypt that
had previously been devastated by the impacts of terrorist activity,
recover strongly.
10.4%
Travel & Tourism GDP as a
This power of resilience in Travel & Tourism will be much needed for
the many established Travel & Tourism destinations that were severely
impacted by natural disasters in 2017. While our data shows the extent
of these impacts and rates of recovery over the decade ahead, beyond
percentage of global GDP. just numbers, WTTC and its Members are working hard to support local
communities as they rebuild and recover.
Inclusive growth and ensuring a future with quality jobs are the concerns
of governments everywhere. Travel & Tourism, which already supports
4.6%
Direct Travel & Tourism GDP
one in every ten jobs on the planet, is a dynamic engine of employment
opportunity. Over the past ten years, one in five of all jobs created across
the world has been in the sector and, with the right regulatory conditions
and government support, nearly 100 million new jobs could be created over
growth in 2017. the decade ahead.
Over the longer term, forecast growth of the Travel & Tourism sector will
continue to be robust as millions more people are moved to travel to see
1 /10
the wonders of the world. Strong growth also requires strong management,
and WTTC will also continue to take a leadership role with destinations
to ensure that they are planning effectively and strategically for growth,
accounting for the needs of all stakeholders and using the most advanced
jobs are supported by Travel & technologies in the process.
Tourism. This is 9.9% of global
employment. WTTC is proud to continue to provide the evidence base required in order
to help both public and private bodies make the right decisions for the
future growth of a sustainable Travel & Tourism sector, and for the millions
of people who depend on it.
1 /5
of all global net jobs created in
last decade have been within the
Travel & Tourism sector.
Gloria Guevara Manzo
President & CEO
FOREWORD
GLOSSARY 15
METHODOLOGICAL NOTE 16
VISITOR EXPORTS
Visitor exports generated VND200,843.0bn (USD8,837.4mn), 4.0% of total exports in 2017. This is
forecast to grow by 6.7% in 2018, and grow by 6.4% pa, from 2018-2028, to VND398,107.0bn (USD17,517.4mn) in
2028, 4.7% of total.
INVESTMENT
Travel & Tourism investment in 2017 was VND116,788.0bn, 8.5% of total investment (USD5,138.9mn). It should
rise by 7.0% in 2018, and rise by 5.0% pa over the next ten years to VND203,748.0bn (USD8,965.3mn) in 2028,
7.7% of total.
1
All values are in constant 2017 prices & exchange rates
47 100 31 10
ABSOLUTE RELATIVE SIZE GROWTH LONG-TERM GROWTH
Size in 2017 Contribution to GDP in 2017 2018 forecast Forecast 2018-2028
2016
2017
2018
2028
2010
2014
2015
2013
2008
2009
2012
2028
+ INDUCED
DIRECT INDIRECT INDUCED
= TOTAL CONTRIBUTION OF TRAVEL & TOURISM
DIRECT
Travel & Tourism contribution
COMMODITIES
● Accommodation
● Transportation
● Entertainment
● Attractions
INDIRECT INDUCED TOTAL
INDUSTRIES Travel & Tourism contribution Travel & Tourism
● Accommodation services contribution (spending of direct and contribution
● Food & beverage services indirect employees)
● Retail Trade ● T&T investment spending
● Transportation services
● Cultural, sports & recreational ● Government collective T&T ● Food and beverages ● To GDP
services spending ● Recreation
● Clothing ● To employment
SOURCES OF SPENDING ● Impact of purchases from ● Housing
● Residents' domestic T&T suppliers ● Household goods
spending
● Businesses' domestic travel
spending
● Visitor exports
● Individual government T&T
spending
DIRECT CONTRIBUTION
The direct contribution of Travel & Tourism to GDP reflects the ‘internal’ spending on Travel & Tourism (total spending within a particular
country on Travel & Tourism by residents and non-residents for business and leisure purposes) as well as government 'individual' spending -
spending by government on Travel & Tourism services directly linked to visitors, such as cultural (eg museums) or recreational (eg national parks).
The direct contribution of Travel & Tourism to GDP is calculated to be consistent with the output, as expressed in National Accounting,
of tourism-characteristic sectors such as hotels, airlines, airports, travel agents and leisure and recreation services that deal directly with
tourists. The direct contribution of Travel & Tourism to GDP is calculated from total internal spending by ‘netting out’ the purchases made
by the different tourism sectors. This measure is consistent with the definition of Tourism GDP, specified in the 2008 Tourism Satellite
Account: Recommended Methodological Framework (TSA: RMF 2008).
The total contribution of Travel & Tourism includes its ‘wider impacts’ (ie the indirect and induced impacts) on the economy. The ‘indirect’
contribution includes the GDP and jobs supported by:
● Travel & Tourism investment spending – an important aspect of both current and future activity that includes investment activity
such as the purchase of new aircraft and construction of new hotels;
● Government 'collective' spending, which helps Travel & Tourism activity in many different ways as it is made on behalf of the
‘community at large’ – eg tourism marketing and promotion, aviation, administration, security services, resort area security services, resort
area sanitation services, etc;
● Domestic purchases of goods and services by the sectors dealing directly with tourists – including, for example, purchases of food and
cleaning services by hotels, of fuel and catering services by airlines, and IT services by travel agents.
The ‘induced’ contribution measures the GDP and jobs supported by the spending of those who are directly or indirectly employed by the
Travel & Tourism industry.
PLEASE NOTE THAT DUE TO CHANGES IN METHODOLOGY BETWEEN 2010 AND 2011, IT IS NOT POSSIBLE TO COMPARE FIGURES PUBLISHED BY WTTC FROM 2011 ONWARDS
WITH THE SERIES PUBLISHED IN PREVIOUS YEARS.
The direct contribution of Travel & Tourism to GDP is expected to grow by 6.0% pa to VND564,968.0bn (6.2% of GDP) by 2028.
6.0
500,000
5.0
400,000
4.0
300,000
3.0
200,000
2.0
100,000 1.0
0 0.0
2028
2009
2009
2008
2008
2028
2012
2013
2014
2016
2012
2014
2016
2010
2011
2015
2017
2018
2010
2011
2015
2017
2018
2013
2028
The total contribution of Travel & Tourism to GDP (including wider effects from investment, the supply chain and induced income impacts, see
page 2) was VND468,291.0bn in 2017 (9.4% of GDP) and is expected to grow by 6.2% to VND497,303.0bn (9.3% of GDP) in 2018.
1,000,000 12.0
900,000
10.0
800,000
700,000
8.0
600,000
500,000 6.0
400,000
4.0
300,000
200,000
2.0
100,000
0 0.0
2017 2018 2028
2028
2028 2017 2018 2028
1
All values are in constant 2017 prices & exchange rates
Travel & Tourism generated 2,467,500 jobs directly in 2017 (4.6% of total employment) and this is forecast to grow by 1.9% in 2018 to 2,515,500
(4.6% of total employment). This includes employment by hotels, travel agents, airlines and other passenger transportation services
(excluding commuter services). It also includes, for example, the activities of the restaurant and leisure industries directly supported by tourists.
By 2028, Travel & Tourism will account for 2,917,000 jobs directly, an increase of 1.5% pa over the next ten years.
3,000.0 5.0
2,500.0
4.0
2,000.0
3.0
1,500.0
2.0
1,000.0
1.0
500.0
0.0 0.0
2009
2008
2028
2012
2014
2016
2010
2011
2015
2017
2018
2013
2008
2009
2010
2011
2015
2017
2018
2028
2012
2013
2014
2016
2028
2028
The total contribution of Travel & Tourism to employment (including wider effects from investment, the supply chain and induced
income impacts, see page 2) was 4,061,000 jobs in 2017 (7.6% of total employment). This is forecast to rise by 1.4% in 2018 to 4,117,000 jobs
(7.6% of total employment).
By 2028, Travel & Tourism is forecast to support 4,790,000 jobs (8.0% of total employment), an increase of 1.5% pa over the period.
8.0
5,000.0
7.0
4,000.0 6.0
5.0
3,000.0
4.0
2,000.0 3.0
2.0
1,000.0
1.0
0.0 0.0
2017 2018 2028 2017 2018 2028
2028
Direct Indirect Induced Direct Indirect Induced
VISITOR EXPORTS
Visitor exports are a key component of the direct contribution of Travel & Tourism. In 2017, Vietnam generated
VND200,843.0bn in visitor exports. In 2018, this is expected to grow by 6.7%, and the country is expected to attract 9,071,000 international
tourist arrivals.
By 2028, international tourist arrivals are forecast to total 13,672,000, generating expenditure of VND398,107.0bn, an increase of 6.4% pa.
400,000 14
5.0
350,000
12
300,000
10 4.0
250,000
8
200,000 3.0
6
150,000
100,000 4 2.0
50,000 2
1.0
0 0
2008
2009
2011
2015
2012
2013
2017
2018
2028
2014
2016
2010
2028
0.0
2009
2008
2028
2012
2014
2016
2010
2011
2015
2017
2018
2013
2028
FOREIGN VISITOR EXPORTS (LHS)
FOREIGN TOURIST ARRIVALS (RHS)
INVESTMENT
Travel & Tourism is expected to have attracted capital investment of VND116,788.0bn in 2017. This is expected to rise by 7.0% in 2018, and
rise by 5.0% pa over the next ten years to VND203,748.0bn in 2028.
Travel & Tourism’s share of total national investment will fall from 8.4% in 2018 to 7.7% in 2028.
14.0
200,000
12.0
10.0
150,000
8.0
100,000 6.0
4.0
50,000
2.0
0 0.0
2009
2008
2028
2012
2014
2016
2010
2011
2015
2017
2018
2013
2008
2009
2016
2010
2011
2015
2017
2018
2028
2012
2013
2014
2028
2028
1
All values are in constant 2017 prices & exchange rates
VIETNAM
TRAVEL & TOURISM'S CONTRIBUTION TO GDP:
DOMESTIC VS FOREIGN, 2017 Domestic travel spending generated 49.3% of direct
Travel & Tourism GDP in 2017 compared with 50.7%
Foreign visitor
for visitor exports (ie foreign visitor spending or
spending
international tourism receipts).
50.7%
Domestic
Domestic travel spending is expected to grow by
spending
6.7% in 2018 to VND208,637.0bn, and rise by 5.5% pa
49.3% to VND354,926.0bn in 2028.
VIETNAM
BREAKDOWN OF TRAVEL & TOURISM'S
TOTAL CONTRIBUTION TO GDP, 2017 The Travel & Tourism industry contributes to GDP
Direct and employment in many ways as detailed on page 2.
62.9%
Induced
14.2%
The total contribution of Travel & Tourism to GDP
Indirect is nearly twice as large as its direct contribution.
22.9%
Indirect is the
sum of:
(a) Supply chain
18.9%
(b) Investment c b
3.1% a
(c) Government
collective
.9%
1
All values are in constant 2017 prices & exchange rates
TRAVEL & TOURISM'S DIRECT 2017 TRAVEL & TOURISM'S TOTAL 2017
CONTRIBUTION TO GDP (US$bn) CONTRIBUTION TO GDP (US$bn)
12 Thailand 42.2 15 Thailand 95.0
16 Philippines 27.3 18 Philippines 66.3
World Average 21.5 World Average 62.9
22 Indonesia 19.4 23 Indonesia 58.9
27 Malaysia 15.2 28 Malaysia 41.9
Southeast Asia Average 13.6 Southeast Asia Average 33.0
33 Vietnam 13.0 33 Singapore 31.5
34 Singapore 12.8 47 Vietnam 20.6
65 Cambodia 3.1 72 Cambodia 7.2
83 Myanmar 2.0 87 Myanmar 4.9
126 Laos 0.6 118 Laos 2.0
148 Brunei 0.2 134 Brunei 1.2
TRAVEL & TOURISM'S DIRECT 2017 TRAVEL & TOURISM'S TOTAL 2017
CONTRIBUTION TO EMPLOYMENT '000 jobs CONTRIBUTION TO EMPLOYMENT '000 jobs
4 Indonesia 4585.1 4 Indonesia 12241.6
7 Vietnam 2467.6 6 Philippines 7796.6
8 Philippines 2348.2 9 Thailand 5834.0
10 Thailand 2336.6 11 Vietnam 4060.9
Southeast Asia Average 1445.7 Southeast Asia Average 3630.9
16 Cambodia 1191.2 19 Cambodia 2663.5
World Average 937.5 World Average 2341.0
25 Malaysia 669.8 25 Malaysia 1704.5
29 Myanmar 569.8 34 Myanmar 1282.4
72 Singapore 169.3 76 Laos 383.5
88 Laos 113.9 86 Singapore 322.9
170 Brunei 5.3 164 Brunei 19.1
2017 2017
TRAVEL & TOURISM INVESTMENT (US$bn) VISITOR EXPORTS (US$bn)
13 Singapore 14.5 4 Thailand 59.6
16 Indonesia 12.0 20 Singapore 19.1
20 Thailand 7.7 23 Malaysia 18.5
29 Malaysia 5.3 27 Indonesia 14.4
30 Vietnam 5.1 Southeast Asia Average 13.6
Southeast Asia Average 4.9 38 Vietnam 8.8
World Average 4.8 World Average 8.1
54 Philippines 1.9 44 Philippines 7.5
74 Cambodia 0.8 62 Cambodia 4.0
85 Brunei 0.6 78 Myanmar 2.4
86 Laos 0.6 118 Laos 0.7
106 Myanmar 0.3 140 Brunei 0.4
The tables on pages 7-10 provide provide brief extracts from the full WTTC Country League Table Rankings, highlighting comparisons with
competing destinations as well as with the world and regional average. Averages in above tables are simple cross-country averages.
The competing destinations selected are those that offer a similar tourism product and compete for tourists from the same set of origin markets.
These tend to be, but are not exclusively, geographical neighbours.
TRAVEL & TOURISM'S DIRECT 2017 TRAVEL & TOURISM'S TOTAL 2017
CONTRIBUTION TO GDP % share CONTRIBUTION TO GDP % share
15 Cambodia 14.1 20 Cambodia 32.4
25 Thailand 9.4 34 Thailand 21.2
27 Philippines 8.7 35 Philippines 21.1
51 Vietnam 5.9 61 Laos 13.7
Southeast Asia 4.9 63 Malaysia 13.4
64 Malaysia 4.8 Southeast Asia 12.0
72 Laos 4.2 World 10.4
75 Singapore 4.1 88 Singapore 10.2
World 3.2 100 Vietnam 9.4
127 Myanmar 2.7 105 Brunei 9.0
158 Indonesia 1.9 140 Myanmar 6.6
168 Brunei 1.7 152 Indonesia 5.8
TRAVEL & TOURISM'S DIRECT 2017 TRAVEL & TOURISM'S TOTAL 2017
CONTRIBUTION TO EMPLOYMENT % share CONTRIBUTION TO EMPLOYMENT % share
14 Cambodia 13.6 20 Cambodia 30.4
50 Thailand 6.2 40 Philippines 19.2
52 Philippines 5.8 48 Thailand 15.5
Southeast Asia 4.7 68 Laos 11.9
68 Malaysia 4.6 Southeast Asia 11.8
69 Singapore 4.6 69 Malaysia 11.8
70 Vietnam 4.6 84 Indonesia 10.0
World 3.8 World 9.9
87 Indonesia 3.7 92 Brunei 9.3
96 Laos 3.5 104 Singapore 8.8
120 Brunei 2.6 116 Vietnam 7.6
127 Myanmar 2.5 149 Myanmar 5.7
TRAVEL & TOURISM'S DIRECT 2018 TRAVEL & TOURISM'S TOTAL 2018
CONTRIBUTION TO GDP % growth CONTRIBUTION TO GDP % growth
9 Thailand 7.8 9 Thailand 7.4
22 Vietnam 6.7 24 Brunei 6.4
23 Brunei 6.7 31 Vietnam 6.2
34 Philippines 6.2 36 Philippines 5.9
Southeast Asia 5.9 Southeast Asia 5.8
53 Indonesia 5.2 45 Indonesia 5.4
54 Myanmar 5.2 47 Myanmar 5.4
80 Cambodia 4.2 63 Laos 4.7
World 4.0 76 Cambodia 4.5
88 Malaysia 3.9 79 Malaysia 4.3
92 Laos 3.8 World 4.0
135 Singapore 2.6 105 Singapore 3.5
TRAVEL & TOURISM'S DIRECT 2018 TRAVEL & TOURISM'S TOTAL 2018
CONTRIBUTION TO EMPLOYMENT % growth CONTRIBUTION TO EMPLOYMENT % growth
5 Philippines 6.6 9 Philippines 6.2
21 Thailand 5.2 14 Thailand 5.5
38 Cambodia 4.2 Southeast Asia 3.3
Southeast Asia 3.3 World 3.0
World 2.4 92 Cambodia 2.5
95 Singapore 2.3 102 Indonesia 2.0
96 Myanmar 2.2 117 Malaysia 1.5
105 Vietnam 1.9 123 Vietnam 1.4
108 Indonesia 1.8 145 Singapore 0.7
132 Malaysia 1.1 152 Myanmar 0.5
139 Brunei 0.8 156 Brunei 0.4
170 Laos -0.6 159 Laos 0
2018 2018
TRAVEL & TOURISM INVESTMENT % growth VISITOR EXPORTS % growth
30 Vietnam 7.0 10 Thailand 8.9
35 Indonesia 6.6 28 Brunei 7.3
48 Cambodia 6.5 40 Vietnam 6.7
67 Laos 5.7 Southeast Asia 6.0
Southeast Asia 5.4 63 Myanmar 5.3
78 Thailand 5.2 World 3.9
World 4.8 103 Indonesia 3.8
88 Myanmar 4.6 115 Philippines 3.4
90 Philippines 4.5 119 Cambodia 3.2
94 Singapore 4.5 124 Malaysia 3.1
113 Malaysia 3.9 126 Singapore 3.0
138 Brunei 3.2 151 Laos 1.7
TRAVEL & TOURISM'S DIRECT 2018 - 2028 TRAVEL & TOURISM'S TOTAL 2018 - 2028
CONTRIBUTION TO GDP % growth pa CONTRIBUTION TO GDP % growth pa
TRAVEL & TOURISM'S DIRECT 2018 - 2028 TRAVEL & TOURISM'S TOTAL 2018 - 2028
CONTRIBUTION TO EMPLOYMENT % growth pa CONTRIBUTION TO EMPLOYMENT % growth pa
TRAVEL & TOURISM CONTRIBUTION 2018 - 2028 VISITOR EXPORTS 2018 - 2028
TO TOTAL CAPITAL INVESTMENT % growth pa CONTRIBUTION TO TOTAL EXPORTS % growth pa
% of total refers to each indicator's share of the relevant whole economy indicator such as GDP and employment. Visitor exports is shown relative to total exports of goods and services.
Domestic spending is expressed relative to whole economy GDP. For leisure and business spending, their direct contribution to Travel & Tourism GDP is calculated as a share of
whole economy GDP (the sum of these shares equals the direct contribution). Investment is relative to whole economy investment.
(VNDbn, real 2017 prices) 2012 2013 2014 2015 2016 2017 2018E 2028F
1. Visitor exports 162,531 165,503 164,615 169,148 191,518 200,843 214,300 398,107
Domestic expenditure
2. 121,738 126,841 139,957 166,527 172,886 195,478 208,637 354,926
(includes government individual spending)
7. Capital investment 91,304 98,985 103,773 101,932 98,047 116,788 125,012 203,748
8. Government collective spending 2,754.0 3,026.0 3,275.7 3,545.1 3,883.9 4,160.1 4,392.1 7,208.3
10. Induced 57,224 56,427 57,987 60,500 64,201 66,610 70,282 130,931
12. Direct contribution of Travel & 2,401.8 2,345.2 2,323.1 2,325.3 2,402.2 2,467.6 2,515.4 2,917.5
Tourism to employment
Other indicators
67,740 78,081 78,161 82,296 83,512 89,058 96,517 166,368
14. Expenditure on outbound travel
(VNDbn, nominal prices) 2012 2013 2014 2015 2016 2017 2018E 2028F
1. Visitor exports 142,440 151,949 156,670 160,676 183,946 200,843 222,272 613,574
Domestic expenditure
2. 106,689 116,454 133,202 158,186 166,051 195,478 216,399 547,022
(includes government individual spending)
5. Direct contribution of
Travel & Tourism to GDP 189,630 201,154 216,404 236,675 259,923 294,660 326,128 870,744
(= 3 + 4)
7. Capital investment 80,017 90,879 98,764 96,827 94,171 116,788 129,662 314,022
8. Government collective spending 2,413.5 2,778.2 3,117.6 3,367.5 3,730.3 4,160.1 4,555.4 11,110
10. Induced 50,150 51,806 55,188 57,470 61,663 66,610 72,896 201,795
12. Direct contribution of Travel & 2,401.8 2,345.2 2,323.1 2,325.3 2,402.2 2,467.6 2,515.4 2,917.5
Tourism to employment
Other indicators
59,366 71,686 74,388 78,174 80,210 89,058 100,107 256,410
14. Expenditure on outbound travel
*Concepts shown in this table align with the standard table totals as described in the 2008 Tourism Satellite Account: Recommended Methodological
Framework (TSA: RMF 2008) developed by the United Nations Statistical Division (UNSD), the Statistical Office of the European Communities (EUROSTAT),
the Organisation for Economic Co-operation and Development (OECD) and the World Tourism Organization (UNWTO).
Historical data for concepts has been benchmarked to match reported TSA data where available.
1. Visitor exports 9.2 1.8 -0.5 2.8 13.2 4.9 6.7 6.4
Domestic expenditure
2. 5.8 4.2 10.3 19.0 3.8 13.1 6.7 5.5
(includes government individual spending)
5. Direct contribution of
Travel & Tourism to GDP 7.8 1.3 3.8 9.6 8.6 8.9 6.7 6.0
(= 3 + 4)
7. Capital investment 1.3 8.4 4.8 -1.8 -3.8 19.1 7.0 5.0
8. Government collective spending 5.9 9.9 8.2 8.2 9.6 7.1 5.6 5.1
10. Induced 11.3 -1.4 2.8 4.3 6.1 3.8 5.5 6.4
12. Direct contribution of Travel & 5.6 -2.4 -0.9 0.1 3.3 2.7 1.9 1.5
Tourism to employment
Other indicators
3.8 15.3 0.1 5.3 1.5 6.6 8.4 5.6
14. Expenditure on outbound travel
1 2
2012-2017 real annual growth adjusted for inflation (%); 2018-2028 annualised real growth adjusted for inflation (%)
WTTC coverage includes data on 185 countries and reports on 25 other regions, sub-regions and economic and geographic groups. This
year, there are 10 reports for special economic and geographic groups.
SUB-REGION
SUB REGION
SUB REGION
SUB REGION
REGION
REGION
REGION
REGION
COUNTRY COUNTRY COUNTRY COUNTRY
NORTHEAST ASIA
Libya Aruba Japan Italy
Morocco Bahamas South Korea
Latvia
Tunisia Macau
Barbados Lithuania
Angola Mongolia
Bermuda Luxembourg
Taiwan
EUROPEAN UNION
Benin
British Virgin Islands Malta
Kazakhstan
CENTRAL ASIA
Botswana
Cayman Islands Netherlands
Burkina Faso Kyrgyzstan
Cuba Poland
Burundi Tajikistan
Dominica Portugal
Cameroon Uzbekistan
CARIBBEAN
Comoros
Haiti Papua New Guinea Sweden
Congo
EUROPE
ASIA-PACIFIC
Nepal
Kenya US Virgin Islands Iceland
OTHER EUROPE
Pakistan
Lesotho
SUB-SAHARAN
Argentina Macedonia
Sri Lanka
Madagascar Belize Moldova
Brunei Darussalam
Malawi Bolivia Montenegro
Cambodia
Mali
SOUTHEAST ASIA (ASEAN)
Nigeria
El Salvador Singapore Ukraine
Reunion
Guatemala Thailand Bahrain
Rwanda
Vietnam
Guyana Iran
Sao Tome and Principe Austria
Honduras Iraq
Senegal Belgium
Nicaragua Israel
Seychelles Bulgaria
Panama Jordan
Sierra Leone
MIDDLE EAST
Croatia
Paraguay
EUROPEAN UNION
Kuwait
South Africa Cyprus
EUROPE
Peru Lebanon
Sudan and South Sudan Czech Republic
Swaziland Suriname Oman
Denmark
Tanzania Uruguay Qatar
Estonia
Togo Venezuela Finland Saudi Arabia
WTTC promotes sustainable growth for the Travel & Tourism sector, working with governments and international institutions to create jobs, to
drive exports and to generate prosperity. Council Members are the Chairs, Presidents and Chief Executives of the world’s leading private sector
Travel & Tourism businesses.
Together with Oxford Economics, WTTC produces annual research that shows Travel & Tourism to be one of the world’s largest sectors,
supporting over 307 million jobs and generating 10.4% of global GDP in 2017. Comprehensive reports quantify, compare and forecast the
economic impact of Travel & Tourism on 185 economies around the world. In addition to the individual country reports, WTTC produces a
world report highlighting global trends and 24 further reports that focus on regions, sub-regions and economic and geographic groups.
Assisting WTTC to Provide Tools for Analysis, Benchmarking, Forecasting and Planning.
Oxford Economics is a leader in global forecasting and quantitative analysis. Our worldwide client base comprises more than 1,500 international
corporations, financial institutions, government organisations, and universities. Headquartered in Oxford, with offices around the world, we
employ 300 people, including 200 economists and analysts. Our best-of-class global economic and industry models and analytical tools give us
an unmatched ability to forecast external market trends and assess their economic, social and business impact.
STR is the source for premium hotel data benchmarking, analytics and marketplace insights. STR provides data that is reliable, confidential,
accurate and actionable, and their comprehensive solutions empower clients to strategize and compete within their markets. The company’s
range of products includes data-driven solutions, thorough analytics and unrivalled marketplace insights, all built to fuel business growth and
help clients make better operational and financial decisions. STR maintains a presence in 15 countries and collects data for over 59,000 hotels
across 180 countries.
ForwardKeys analyses more than 17m flight booking transactions a day, drawing data from all the major global air reservation systems and
selected airlines and tour operators. This information is enhanced with further independent data sets, including flight search and official
government statistics, plus data science to paint a picture of who is travelling where and when. ForwardKeys’ analytics are used by traveller-
focussed businesses worldwide to monitor and anticipate traveller arrivals from a particular origin market at a specific time. This analysis
enables parties to anticipate the impact of events, better manage their staffing levels, fine tune supply requirements, adjust and measure the
effectiveness of their marketing efforts and anticipate future market trends.
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